Governor  Dannel P. Malloy
 

 

State of Connecticut Taxable General Obligation Bonds (2017 Series A) General Obligation Bond Anticipation Notes (“BANs”) (2017 Series A)

The State expects to offer $850,000,000 of securities for competitive bid only to qualified institutional investment banking firms.

Considerations

Before you buy any bonds, you should read the related Preliminary and final Official Statement, which will contain all available information about the bonds.

See the Official Statement for further and detailed information regarding the tax status of the bonds. Before deciding to purchase any bonds, investors should consult their tax advisors to determine the applicable federal, state and local tax consequences of owning any bonds.

 

Schedule*

Expected Pricing: Monday, December 11, 2017
Expected Date of Delivery: Thursday, December 21 2017

Transaction Overview*

Estimated Size of Taxable Bonds: $450,000,000
Estimated Size of BANs: $400,000,000
Security: General Obligation
Expected Structure of Taxable Bonds: Serial Bonds due January 15 2019-2028
Expected Structure of BANs: Note due September 14, 2018
Securities Offered: Fixed Rate
Bond Insurance: None
Call Feature for Optional Redemption (Taxable Bonds): Non-Callable
Call Feature for Optional Redemption (BANS): Non-Callable
Interest Payment Dates 2017 (Taxable Bonds): July 15 and January 15
Interest Payment Dates 2017 (BANS): Not Applicable
Denominations: $5,000, or any integral multiple thereof
Ratings: Moody’s: A1 (Bonds) MIG1 (BANs)
S&P: A+ (Bonds) SP-1+ (BANs)
Fitch: A+ (Bonds) F1+ (BANs)
Kroll: AA- (Bonds) K1+ (BANs)
Expected Tax Status: Interest on the Taxable Bonds is not exempt from federal income tax. Interest on the BANS is exempt from federal income tax and, for Connecticut Residents, is also State tax-exempt.
Notices of Sale: Download the Notice of Sale – $450,000,000* Taxable General Obligation Bonds (2017 Series A)

Download the Notice of Sale – $400,000,000* General Obligation Bond Anticipation Notes (2017 Series A)

Preliminary Official Statement: Download the Preliminary Official Statement

*Preliminary Subject to Change


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